Thursday, August 4, 2011

RBI Young Scholars Award Scheme

RBI Young Scholars Award Scheme

Reserve Bank of India has introduced “RBI Young Scholars Award Scheme” in the year 2007-2008. The prime target behind introduction of such scheme is to promote interest and awareness about the Indian banking sector and RBI. Under the RBI Young Scholars Award Scheme, about 150 young scholars get an opportunity to work on projects in RBI offices for a period of two to three months. Students are selected via conducting a nationwide competitive examination aged between 18 to 23 years pursuing their undergraduate studies. The examination focuses on the role and functions of RBI and banks. The aspirants have the alternative to give the examination in any regional language or in Hindi or English. Every year selection examination is held in the month of March and selected students will work on projects of RBI for the duration of 2 to 3 months during which they will also receive stipend of Rs. 7500 per month.

Eligibility for RBI Young Scholars Award Scheme

•All students applying for the award must have completed 10+2 years of formal education from any recognized institute or board and are currently undergoing with undergraduate studies. However, candidate having higher degree than graduation are not eligible. Candidates who have qualified once and worked for RBI are not eligible to apply again. Candidate age must be in between 18 to 23 years.

•As the number of scholarship award is limited so out of 150 available scholarships a maximum of 50 candidates may be selected through a test conducted in English language. The rest 100 awards shall be selected on regional basis test conducted in vernacular language.

•The entrance examination of RBI Young Scholars Award Scheme happens in English, Hindi and 11 other regional languages. The regional language will be Bengali, Gujarati, Malayalam, Oriya, Tamil, Urdu, Telugu, Punjabi, Assamese, Kannada and Marathi. The exam is conducted in about 100 different locations all across the country.